Palm loses its VP of software and services | Mobile Devices | Mobile Entertainment

Palm loses its VP of software and services

Palm loses its VP of software and services
Stuart Dredge

by

Devices / April 19th 2010 at 11:25AM

But it's paying other execs to stick around for two years.

The speculation around Palm's future is set to mount, after the company revealed that its senior vice president of software and services Michael Abbott is leaving the company.

Abbott, who was one of the key execs in charge of Palm's webOS platform, submitted his resignation on 12 April, and will leave on 23 April, according to an SEC filing.

The same filing reveals that Palm is "implementing a retention program for certain key employees, including executive officers".

They're being given stock and cash bonuses to be earned if they stay at the company for the next two years.

SVP of global operations Jeffrey Devine and CFO Douglas Jeffries have both received stock and cash bonuses of $250,000 as part of the program.

SVP of brand design Jeffrey Zwerner, SVP of worldwide sales Dave Whalen, SVP of product marketing Kathleen Mitic and SVP of product development Michael Bell are also included in the scheme.

What's afoot? Engadget suggests that the two-year lock-ins could be "a harbinger of an impending deal" - confirmation that Palm is about to be bought.